advice on moving to cash funds please

[magsrosebh]

hi

i currently have 30k in eagle star matrix funds, It was 40k when first invested 2 years ago. My f.a is recommending than we move to a ' cash fund' until things settle. Would i better off putting the cash in a high yield deposit account. thanks for any advice

 

[mercman]

What does your FA say to this question ?? Personally I would think you might be better off with your own suggestion of a High earning Ceposit Account. Remember ea\ch and every time you move funds with the FA he is winning as he gets commissions. Why not ask him what he getsd from your changes ??

 

[Conan]

mercman,
For the sake of clarity and fairness, it is not true to say that "each and every time you move funds with the FA he is winning as he gets commission".
The Matrix structure has a wide range of fund options within the policy structure and generally fund switches (as opposed to moving to another provider) are free of charge. FA's do not get paid for fund switches.

As for switching into either a Cash Fund (within Matrix) or into a "high earning deposit account" (somewhat of an oxymoron at present) until the "market settles down", I would question when we might ever be aware that the market has "settled down". If the OP is invested in Equity markets, they should have seen significant recovery in the last 6 months. So is now the risght time to switch to low yielding cash?? A range of other factors need to be considered before making such a move.